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WALTHAM, MA - Invivyd, Inc., a biotechnology firm specializing in biological products, has received a warning from the Nasdaq Stock Market LLC due to its stock price falling below the minimum required bid price of $1.00 for 30 consecutive business days.
The company, listed under the ticker NASDAQ:IVVD and currently trading at $0.51, was notified on Friday that it must boost its share price to meet Nasdaq's continued listing standards. According to InvestingPro data, IVVD has seen its stock price decline by over 86% year-to-date, with its market capitalization now at approximately $63 million.
The Nasdaq's deficiency letter, however, does not immediately affect Invivyd's listing status. The company's stock remains actively traded on the Nasdaq Global Market, maintaining impressive gross profit margins of 92% despite its challenges.
To regain compliance, Invivyd must maintain a closing bid price of at least $1.00 per share for at least ten consecutive business days within a 180-day period ending on June 25, 2025. InvestingPro analysis indicates the company holds more cash than debt on its balance sheet, though it's currently burning through cash rapidly.
If compliance is not achieved by this deadline, Invivyd may qualify for an additional 180-day period, provided it meets certain conditions, including transferring to the Nasdaq Capital Market. The company would need to meet all initial listing requirements for the Capital Market, except for the bid price requirement, and would need to express its intent to Nasdaq to resolve the bid price deficiency.
Invivyd has stated its intention to actively monitor its stock's closing bid price and is considering options to address the deficiency and regain compliance with the Minimum Bid Price Requirement. Despite these intentions, there is no guarantee that the company will be successful in meeting the Nasdaq's standards.
The risks associated with these forward-looking statements include the possibility that Invivyd may not regain compliance within the Nasdaq's given timeframe, and could face delisting if relief from Nasdaq is not granted or if the company fails to meet the necessary requirements.
This situation is being closely watched by investors and stakeholders, as Invivyd's future on the Nasdaq hangs in the balance. The company's most recent filings with the SEC provide further details on the risks and uncertainties it faces.
For investors seeking comprehensive analysis of Invivyd's financial health and market position, InvestingPro offers detailed research reports and real-time monitoring tools, along with 12 additional ProTips that could help inform investment decisions in this volatile situation.
In other recent news, Invivyd, Inc. reported steady growth in its third-quarter financial results, with net product revenue totaling $9.3 million and an ending cash balance of $107 million. This comes amidst the resignation of board member Sara Cotter and ongoing regulatory challenges. The company's antibody, pemivibart, demonstrated an 80% to 90% reduction in symptomatic COVID-19 risk, outperforming vaccine boosts, while a new antibody candidate, VYD2311, began human studies in August 2024.
Furthermore, Invivyd is targeting profitability by June 2025 through strategic restructuring to enhance commercial outreach, primarily serving the immunocompromised community. The company is also in discussions with the FDA regarding the regulatory pathway for VYD2311. Despite concerns about pemivibart's efficacy against certain SARS-CoV-2 variants, Invivyd remains confident in its clinical data and regulatory pathway for its products.
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